While many Chicagoans start a new home search browsing luxury condos on the market, a co-op apartment is another available option that many buyers should consider if they want spacious layouts and formal rooms.. Unlike a traditional real estate sale, however, co-op buyers are actually purchasing shares of stock in a legal entity that owns the building rather than actual property, and part of the purchase agreement includes a proprietary lease that entitles you to occupy a certain unit.
In Chicago, co-ops are relatively common, especially in neighborhoods like the Gold Coast and especially along East Lake Shore Drive in Streeterville. Among the prestigious co-op apartments you’ll find on this historic block is 209 E. Lake Shore Drive,.
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Downtown Chicago and luxury condos go hand-in-hand and anyone searching for a new upscale condo residence should find plenty of desirable options available on today’s market. In some instances, buyers are drawn to all the new high-profile developments coming through the pipeline, like Vista Tower or One Bennett Park for example. But one already-established building that also can’t be overlooked during your search is Waldorf Astoria, and here’s why: